This entry was posted on Thursday, July 14th, 2011 at 9:09 pm and is filed under Rubber News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
[Dow Jones] Tocom rubber futures settle a tad lower tracking USD/JPY, which hit a four-month low Thursday before gaining sharply on fears of intervention. Tocom may rebound in the next session due to the strong U.S.-denominated spot market–which is supported Thursday by overall weakness in the greenback, says a trader in Thailand. “Tocom is moving very fast in the last week and is taking cues from the external markets; investors will be watching the yen.” A Tokyo-based commodities brokerage analyst tips resistance at Y380/kg. Benchmark December rubber settles Y0.3 lower at Y376/kg, off an intraday low of Y368.2/kg.
Source: Dow Jones